Market Overview:
Castrate-resistant prostate cancer (CRPC) refers to prostate cancer that continues to grow and spread despite medical or surgical therapy to lower testosterone. Currently available treatments include chemotherapy, hormonal therapy, radiotherapy, or bone-targeting agents. However, they provide only modest survival benefits to patients with CRPC. There is a considerable need for more effective and safer treatments with improved survival outcomes for such patients. Novel therapies targeting the androgen receptor and androgen axis hold promise for enhancing the treatment landscape for CRPC.
Market key trends:
One of the key trends gaining traction in the Castrate-Resistant Prostate Cancer market is the increasing research on androgen receptor antagonists and novel hormonal agents targeting different nodes along the androgen axis. Several pharmaceutical companies are conducting clinical trials evaluating androgen receptor signaling inhibitors (ARSI) that directly bind to and destabilize the androgen receptor, preventing its activity even in castration-resistant tumors dependent on androgen receptor signaling for growth. A few ARSIs have demonstrated encouraging efficacy and safety profiles in late-stage trials. Their potential regulatory approvals are likely to significantly improve treatment outcomes for CRPC patients, representing a major advance in the market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to high capital requirements and established distribution channels of existing players.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of alternative treatment options.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of generic drug options.
Threat of new substitutes: The threat of new substitutes is moderate as research is ongoing to develop novel treatment options with higher efficacy and lesser side effects.
Competitive rivalry: Intense competition exists between major players.
Key Takeaways
The global Castrate-Resistant Prostate Cancer Market is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing prevalence of prostate cancer. Regional analysis
North America dominated the market and accounted for the largest revenue share in 2021 due to growing incidence of prostate cancer and expanding reimbursement scenario in the region. The Asia Pacific region is expected to witness the fastest growth over the forecast period owing to rising awareness regarding prostate cancer and an improving healthcare sector in emerging economies such as China and India.
Key players
Key players operating in the castrate-resistant prostate cancer market include Sanofi, Johnson & Johnson Services Inc., Pfizer Inc., Astellas Pharma Inc., Bayer AG, Bristol Myers Squibb, Merck Sharp & Dohme, Novartis International AG, Eli Lilly & Company, and AstraZeneca plc. Key players are focusing on expanding their product portfolio through acquisitions and collaborations to strengthen their market position.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
